Follow Our FB Page << CircleMedia.in >> for Daily Laughter. We Post Funny, Viral, Comedy Videos, Memes, Vines...


Describe the accounting principles

Answers were Sorted based on User's Feedback



Describe the accounting principles..

Answer / saikiran

GAAP is exceedingly useful because it attempts to standardize and regulate accounting definitions, assumptions, and methods. Because of generally accepted accounting principles we are able to assume that there is consistency from year to year in the methods used to prepare a company's financial statements. And although variations may exist, we can make reasonably confident conclusions when comparing one company to another, or comparing one company's financial statistics to the statistics for its industry.

Is This Answer Correct ?    0 Yes 0 No

Describe the accounting principles..

Answer / saikiran

Principles of accounting can also refer to the basic or fundamental accounting principles: cost principles, matching principles, full disclosure principles, materiality principles, going concern principles, economic entity principles, and so on. In this context, principles of accounting refers to the broad underlying concepts which guide accountants when preparing financial statements.

Is This Answer Correct ?    0 Yes 0 No

Post New Answer

More Accounting AllOther Interview Questions

Expand---------ABCDE

5 Answers  


shares & debentures ?

3 Answers  


when one person does a BPO accounts than how it is differ from normal accounts

2 Answers   Wipro,


What is the uses of Ratio's in The Finanacial management? Explain it?

2 Answers   IBM,


what is journal and ledgers ?

16 Answers   Banking, Bhel, ICICI, Prolect,






please give me a last 10 years sbi clerk question and answer paper

0 Answers   TCS, VC,


what is mean by ledger

1 Answers   ME,


what is merchant banking ?

2 Answers  


Expand CMPF?

1 Answers  


let me know the meaning and Nature of cash

0 Answers  


Answered but misspelled pl correc IT Financilas means profit and loss a/c,balance sheet including (Ans.LESSEHEDU)

1 Answers  


Expand-------CSNA

0 Answers  






Categories